Tokenization is the process of converting meaningful data such as credit card number into a random string called as a symbol, which will have no value if it is leaked. Tokens act as a reference to the original information, but cannot be used to guess those values. This is because unlike encryption, Tokenization does not display any mathematical procedure to convert confidential data to a token. There is no key and no algorithm present here, which can be applied to derive the original content from the token. Well, this data security concept uses a database called a symbolic vault. It is used to maintain the structure of the relationship between the sensitive value and the token. The real information in this token database is secured, often through encryption.
Tokenization is the process of converting meaningful data such as credit card number into a random string called as a symbol, which will have no value if it is leaked. Tokens act as a reference to the original information, but cannot be used to guess those values. This is because unlike encryption, Tokenization does not display any mathematical procedure to convert confidential data to a token. There is no key and no algorithm present here, which can be applied to derive the original content from the token. Well, this data security concept uses a database called a symbolic vault. It is used to maintain the structure of the relationship between the sensitive value and the token. The real information in this token database is secured, often through encryption.
The benefits of this Tokenization technique is that there is no existence of the mathematical relationship to represent the original data. Even in a case of things getting revealed, then no attackers will be able to determine the actual meaning. No key can reverse things back to their initial state. Well, to make the Tokenization process stronger, individuals can provide different considerations for token designing and hence, customize it
"Tokenization" is the new important concept in security of financial transactions architecture that was brought to the industry at the beginning of XXI century. Here below are several examples to understand:
(1) When one buys online a plane ticket, this one has to submit a credit/debit card to pay for the flight and eventually that person gets a Resource Locator - a certain alphanumeric code to remember as a result of a user and a card prior authentication and payment. Then, 24 hours before the flight, a user/buyer can perform an online flight check-in procedure to obtain a boarding pass by submitting one's Recourse Locator or "Token" - the alphanumeric code obtained long before. Hence, this tokenization procedure has enabled the buyer/user to get prior to the actual travel code, that eventually sufficient enough to enable that one to access and perform the flight.
(2) "Chip and PIN" tokenization in EU. Every credit/debit card contains a built-in electronic chip, while a buyer/user has a personal alphanumeric PIN code. When one buys something in a store, that one buyer is required to enter the card first and electronic communication between the chip and a remote server at the issuing bank allows to authenticate the card validity; then the buyer is required to enter a personal code, which authenticates the buyer oneself to the same remote server. Then eventually that remote server sends a permission or denial code to the store's Point of Sale enabling or forbidding this financial transaction. Hence, unlike the prior technology when it was enough to just give a credit card number, with this new "tokenization" technology the buyer has to authenticate the card (with a built-in electronic chip) and then to authenticate oneself by submitting a personal PIN (or password). The bottom line the tokenization method is enabling in this case two-factor authentication security - the card is authenticated by its chip and the buyer is authenticated by one's personal PIN. All that provides much enhanced transaction security.
I believe that the tokenization you do in security is the cooperation of human societies for the purpose of achieving peace, security and safety
Form of motivation of security personnel basing on hard work and achievement.
Tokenization is the act of breaking up a sequence of strings into pieces such as words, keywords, phrases, symbols and other elements called tokens. Tokens can be individual words, phrases or even whole sentences. In the process of tokenization, some characters like punctuation marks are discarded. When applied to data security, the token is the non-sensitive data equivalent that has no extrinsic or exploitable meaning or value. In short, tokenization uses a token to protect the cloud data. It differs from encryption which uses a key. What that means is that tokenization swaps sensitive data for an irreversible, nonsensitive placeholder (token) and securely stores the original, sensitive data outside of its original environment, but encryption encodes the content of a data element where it resides with a key shared between whoever is encrypting the data and whoever need to decrypt it.
Experimental learning psychology has been working with tokens for a long time.
In today's world , where business transactions necessitate the transference of huge amounts of capital through the internet, the need for financial security is more than ever before. As such, tokenization provides financial firms with a suitable source by which they are able to use unique tokens whose main purpose is to to protect financial institutions and their customers from hackers and other security threats.
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